The short, snarky answer is "No; Boxer-Lieberman-Warner is never going to become law." The longer, analytical answer, which is the primary subject of this post, is "probably not, thanks to the bill's many cost containment measures, but it would take us off the business-as-usual emissions path."
Before explaining why, let me make clear that the vote on B-L-W is purely symbolic, since it is DOA as a bill can be. Most of the media, most of the public, and most of the world are unlikely to get much detail on the bill. They will just see whether a greenhouse gas cap-and-trade bill can get a majority, if not 60 votes, in the U.S. Senate. So I would recommend any senator vote for it -- after giving a floor statement explaining that it was in fact too weak. I can't see casting a protest vote against a symbolic bill while asserting it is too weak. The protest would get lost in the noise. Finally, it would be the height of hypocrisy for a conservative senator to cite progressive critiques of the bill, including mine, as a reasons to vote against it. Anyone who votes against this bill should at least have the guts to say whether they themselves think the bill is too weak or too strong.
Why the Boxer bill wouldn't cut U.S. CO2 emissions by 2020
This story begins late Friday night, when Deep 'emissions cut' Throat sends me the World Resources Institute's 14-page summary of the Boxer substitute to the Lieberman-Warner bill [PDF], with a note, "Does this mean no emission reductions until 2028? See bottom of page 6." Intrigued, I turned to the bottom of page 6 and read this bullet: